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Completion of the FAFSA results in a determination of a family’s ability to pay for their son’s education (EFC). If the EFC is lower than the student’s Cost of Attendance (COA), the student is eligible for need-based financial aid.

COA – EFC = Need-based Aid Eligibility

The amount of federal, state, and institutional need-based aid a student can receive is based on the level of the student’s need-based aid eligibility and other sources of financial assistance he may have (i.e. merit-based scholarship).

Eligibility for need-based financial aid is contingent upon continuing to demonstrate financial need, Satisfactory Academic Progress, and campus citizenship as determined by the Dean of Students. Additionally, students cannot be in default or owe a refund on any federal aid.

IF you are selected for verification, you will be contacted by the Financial Aid Office via your Wabash email account. You will need to:

1) Utilize the IRS Data Retrieval Tool (DRT) on your FAFSA for both you and your parents
2) Submit the Verification Worksheet (and all related forms/documents) directly to the Financial Aid Office.

Please submit the Verification Worksheet (and all related forms/documents) directly to the Financial Aid Office. The DRT must be utilized no later than April 1. The Verification Worksheet (and all related forms/documents) must be submitted directly to the Financial Aid Office no later than April 1, as well.

IRS Data Retrieval Tool (DRT)

The IRS Data Retrieval Tool (DRT) allows students to access the IRS tax return information needed to complete the Free Application for Federal Student Aid (FAFSA), and transfer the data directly into their FAFSA from the IRS Web site.

NOTE: Students or parents who are married and filed as Married Filing Separately, are married and filed as Head of Household, filed an amended tax return, or filed a Puerto Rican or foreign tax return are not eligible to use the IRS DRT, and will need to enter their tax return information manually.

Additionally, students or parents who filed their tax return recently (within the last 3 weeks electronically or within the last 8 weeks by mail) might need to enter their tax return information manually and return to the FAFSA at a later date to utilize the IRS DRT.

If you are eligible to use the IRS DRT, then click Link to IRS to transfer your tax return information from the IRS Web site into your FAFSA. (Note: if you previously transferred your tax return information from the IRS, or you indicate that you filed your tax return electronically within the last three weeks or through the mail within the last eight weeks, then the Link to IRS button display once you click “View option to link to the IRS” hyperlink.)

Although the following video was produced by a school in California, the information presented will be helpful to all families in understanding the IRS Data Retrieval Tool process.

If you are ineligible or otherwise choose not to use the IRS DRT to retrieve tax information, you will be required to provide the Financial Aid Office with a copy of your IRS Tax Return Transcript (and your parents’ IRS Tax Return Transcript, if you are a dependent student).